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61  Bitcoin / Bitcoin Discussion / Re: Do you think Satoshi will ever spend his bitcoins? on: August 18, 2014, 03:01:26 AM

Another explanation for this would be the fact that satoshi was very serious about staying anon. If he did take up this offer then he would likely need to give up his identity for only $50. 

No, he would not have.  Are you sure you understand how Bitcoin works?
62  Bitcoin / Bitcoin Discussion / Re: Do you think Satoshi will ever spend his bitcoins? on: August 14, 2014, 03:59:40 AM
He might have lost it!
How would Satoshi lose his BTC?
.-.
I'm VERY sure Satoshi keeps a cold storage or something of the sorts.
Or he keeps the PW safe.
He's probably just not touching it for now.

He might have lost the private keys.

I doubt that, but of the blocks he is known to control, I'd wager he has some special intention for those.  When he was still here, he was offered $50 for a single bitcoin from the genesis block; when the going rate was under a nickel.  He refused, stating that those were his legacy.  That could be interpreted in many ways, but I thought s/he intended those early blocks to go to his heirs.
63  Economy / Economics / Re: Peter Schiff on Bitcoin on: August 14, 2014, 03:56:29 AM
Schiff likes to pretend that he's the only one who foresaw the housing issues and such in the mid 00's.  Not true at all.  Many many bright people were shrieking from the roofs about it.  He was the only one that I remember who was yammering on about how the Euro-zone and APAC were the magic bullet.  Few others were that retarded.

Do you happen to have any links to the predictions that were made by a few of them?  I do remember seeing that Ron Paul predicted the housing collapse a few years in advance but don't recall seeing any others.  (www.youtube.com/watch?v=9S3lXDOQ7ec)

Mish Shedlock did.  I know there were at least a few more that I paid attention to.  Several at motleyfool.

Without a doubt, Mish did it with the most profound detail and accuracy of any I know of.  He was tracking the progression of the housing market over a silhouette of the graph of the rise and fall of the real estate market in Japan before and after it's great crash in the 80's.  It was odd how well it tracked. It's statistical corrolation was above 90% IIRC.
64  Economy / Economics / Re: Peter Schiff on Bitcoin on: August 14, 2014, 03:53:50 AM
Schiff likes to pretend that he's the only one who foresaw the housing issues and such in the mid 00's.  Not true at all.  Many many bright people were shrieking from the roofs about it.  He was the only one that I remember who was yammering on about how the Euro-zone and APAC were the magic bullet.  Few others were that retarded.

Do you happen to have any links to the predictions that were made by a few of them?  I do remember seeing that Ron Paul predicted the housing collapse a few years in advance but don't recall seeing any others.  (www.youtube.com/watch?v=9S3lXDOQ7ec)

Mish Shedlock did.  I know there were at least a few more that I paid attention to.  Several at motleyfool.
65  Economy / Economics / Re: Bancor: The New Global Currency ? on: August 11, 2014, 02:26:29 PM
So, lots of time gone since the topic started...

Is Bitcoin == Bancor soon ?

no
66  Bitcoin / Development & Technical Discussion / Re: Will the block chain size ever become too large? on: May 13, 2014, 06:17:24 PM
Isn't there some way of limiting blockchain download so that each node only need download a portion. It's so obvious that it must be what you developers are working on.

Short answer, yes.

Longer answer, it's complicated, but yes.

One method currently available is to use a 'light client' that only downloads and keeps a copy of the block headers plus the blocks that contain confirmed transactions related to it's own wallet.dat balance.  The wallet.dat keeps a copy of the particular transactions anyway, so it's relatively easy to do, but I know of no desktop clients that don't use a full-client model.  The problem here is that, while light clients can prove that they owned those coins at one time, they are dependent upon the vendor's client being a full client (or have some other method of full verification) in order to spend coins; and light clients have issues with acceptance of coins, because they can't independently confirm that a transaction received is still valid.  Only that the coins were once owned by the sender, and (usually, but not absolutely) that the transactions offered should fit in the block where the sender claims they came from.

Another method is what I've been calling "naked block transmission protocol" but I'm sure that is not what Gavin and the developers are calling it.  Wherein a new block, even for a full client, is broadcast only with the header and the full merkle tree; thus stripped of the actual transaction data.  On the assumption that all full clients would have already seen the vast majority of the transaction data when it was released loose on the network up to 10 minutes prior.  This would improve the network throughput from between 2 to 10 times, or about 6 for the average block.  This wouldn't improve a full-client bootstrapping time at all, but, a kind of vendor's client could be developed from this that has more data than a light client but not as much as a full client.

There is also the parallel network method, that Stratum & a couple of android clients are using.

And for full clients that no longer need old data locally, there is the pruning protocol that has always been in Bitcoin, but never implimented; which would allow full clients to discard long spent transactions.
67  Bitcoin / Bitcoin Discussion / Re: Does the FED already control Bitcoin? on: May 09, 2014, 06:53:49 PM
Bitcoin will NEVER EVER be one dollar again.

There are thousands, millions, chomping at the bit to see 100 USD again.


When the price on Gox dropped there was a huge influx of wire transfers trying to nab cheap BTC.

I will throw every dime I got at a 50 dollar BTC!

Then why MTGOX exchange rate dropped below $100?

Because it became fairly obvious to many users that MtGox itself was failing, and therefore the MtGox trade price wasn't real.  The other exchanges never got anywhere near $100.
68  Bitcoin / Bitcoin Discussion / Re: Does the FED already control Bitcoin? on: May 09, 2014, 06:52:11 PM
The Federal government has all the mtgox coins - be certain of that.
That's already my assumption.
I think they did some blackmail on Karpeles to get his coins.
They probably injected some childporn on his computer and said he probably did not want to get that fact public knowledge.



There are two possibilities:

One is that Karpeles was part of a government honeypot all along.

The other is that he was forced to. I'm sure they could have threatened him with all kinds of things. He was already being forced into regulations in early 2012 when mtgox started requiring gov IDs for fiat withdrawals. Then they had their dwolla account frozen. These events tell me the government was already up their ass and probably knew everything about their finances. Add to that the bullshit stories about where the coins went that don't add up and the fact that Karpeles is still roaming free, and you can easily deduce that the Feds have all the mtgox transaction records and all the coins in their possession.
Besides that he is in Japan. He is prosecuted by Japanese law. He's nationality is French.
You US-Americans really think, you are the Center of the world ...

There are good reasons for such a US centric perspective.  Since at least 1945, the United States has been the political and economic guiding force of the entire English speaking world.  Which, thanks to the British, was and remains the only truly global empire to ever exist.

And don't forget, that Japan remains a US protectorate.  If you don't think that US government agencies do have an influence on the MtGox case in Japan, you're delusional.  I'm not claiming that is how the world should be, I'm saying that is how it actually is.  One of the obvious and professed motivations for Satoshi to create Bitcoin in the beginning.
69  Bitcoin / Bitcoin Discussion / Re: Does the FED already control Bitcoin? on: May 07, 2014, 08:34:42 PM
I think this is just another conspiracy theory. To be honest I don't think the FEDs think of bitcoin as a threat, at least not for now.

Well, yes and no.  No, to the degree that the Fed is just another social construct, and there cannot be any real consensus among the human beings that make up the Fed; and yes, that some of those same people have more institutional influence than others and that some subset of those influential persons think in terms of 'threats' to their institution.  Among those influential persons, Bitcoin & derivitives are regarded as a systemic threat, they just don't really know (or can agree upon) how to respond.
70  Bitcoin / Bitcoin Discussion / Re: Does the FED already control Bitcoin? on: May 07, 2014, 08:30:31 PM
Short answer.  No.

Longer answer. No, not yet anyway. Controlling bitcoins does not necessarily equate to controlling Bitcoin (in particular) or cryptocurrencies (in general); but nor does that mean that owning bitcoins doesn't provide some degree of influence in the realm.
71  Other / Politics & Society / Re: "Anarchists" rioting in London on: May 02, 2014, 05:32:25 PM
Roe v. Wade
The Supreme Court doesn't make laws.

Its decisions restrict what laws can be made, and while not technically "laws" (as the term is applied to mandates passed by Congress).  By narrowly restricting how laws can be made, it effectively creates laws.

The Constitution says the Supreme Court is the "supreme law of the land".  But yes, technically I did not answer his question.

Um, no it doesn't.  The constitutions says that IT is the supreme law of the land.  The constitution doesn't even grant the Supreme Court the power to judge the constitutionality of laws, that's just something that they assumed they could do, and there isn't really any court capable of overridding that assumption.  Technically, the House of Representives has the power to sensor/override a Supreme court ruling; but this has actually never occured.
72  Other / Politics & Society / Mark Steyn on the core issue with Common Core... on: April 25, 2014, 01:36:37 AM
“The average American in 1940 had an 8th grade education. The post-war prosperity of this country was built by 8th graders. 8th grade America won the Second World War, and then had that big post-war 1950s prosperity. Now we stay in school twice as long, have twice as much attention from school teachers, and for no purpose. The longer you keep people in education — if you pretend that college is universal, it becomes middle school. If everybody goes to college it’s middle school, that’s what it is, that’s what it will be. You take away so many people’s most productive years. It leads to later economic contribution, later family formation, it has all kinds of consequences. And the education that matters is still K through 8. Because if you screw up K through 8, you can spend the next 20 years trying to play catch-up, and it doesn’t really make any difference. And that’s what I’d like to see. I’d like to see a stronger telescope education. I’d like to see a return back to the spirit of single-town school districts, and I’d like to see American education delivered out of the hands of the present educational establishment, and Common Core does none of those things, which is why it’s to me part of the problem, not the solution.”

73  Other / Politics & Society / Re: US health care mandate (Obamacare) on: April 23, 2014, 11:16:39 PM
We can, we just have to pay out of pocket for it, since we're not citizens of Singapore or Malaysia.

But when compared to the medical premiums in the US, the hospital expenses are much more affordable in Singapore even for non-citizens. A lot of Americans do travel to Singapore in search of affordable treatment.

Yes, it's called medical tourism, and it's not just Singapore.  There are many reasons that the health care costs in the United States are high; some are directly related to government regulations (including Obamacare) and some are not.  One really big contributing factor is that health care professionals in general and specialist doctors in particular make significantly more money for the same skillset in the US than most other places in the world.  Granted, there are exceptions depending upon the specialty, but there is a very good reason that many of the best doctors from former British colonies have moved to the US in the past 30 years.  Odds are high they already speak the language well enough, and they can't make the same kind of income, nor expect the same quality of life in general, by staying in India or Trinidad.  For the Americans here, how often do you end up with a doctor (even a general prac) that has an accent?  Ironicly, Obamacare stands a decent chance of actually affecting this trend; by undercutting the medical payments regime in place for insurance companies and employers, income growth in the health care industry is likely to slow for some time.
74  Other / Politics & Society / Re: US health care mandate (Obamacare) on: April 23, 2014, 07:07:21 AM
Americans have recently been hit with some of the largest premium increases in years, according to a Morgan Stanley survey of insurance brokers

The healthcare sector in the US / EU has turned extremely exploitative. People are paying medical insurance premiums of $2,000 to $3,000 per year, per capita on average. In Singapore, the average medical premium is only around one-fifth of this amount, and the quality is extremely high. Why can't the Americans go to Singapore or Malaysia to get medical treatment?

We can, we just have to pay out of pocket for it, since we're not citizens of Singapore or Malaysia.
75  Economy / Economics / Re: The current Bitcoin economic model doesn't work on: April 13, 2014, 12:14:06 AM


Every four years a miner needs to exert double the virtual effort to create the same amount of coins, which means he'll be constantly demanding higher prices to compensate for his costs. Which also means that bitcoins won't generally be spendable. Why? Because only an idiot spends a currency which he is certain its price will double within 4 years, effectively granting him about 19% real annual interest--significantly better than any bank or mutual fund.

Great! I hear you say, free money for everyone, right?

Wrong.

Just as it's futile to create and distribute free extra coins to anyone already owning them "to make everyone richer", built-in deflation won't be helping anyone on the long term. That free money will encourage people to hoard BTCs forever or until another wishful investor buys them, fueling speculation and price bubbles. Bitcoin will ultimately be regarded as a phony investment with no real value, just like the good ol' Pyramid (Ponzi) Scheme where everyone purchases a ticket just to sell it to someone else later for a high profit until the whole system collapses when it runs out of new victims.


Every word of this 4-year old post is holding true and if nothing changes, bitcoin faces the danger of the conclusion of this post.

Economic law has not changed in the past 4 years, so this post is no more correct today than it wasn't 4 years ago.  Go take an economics class.
76  Economy / Economics / Re: Transactions Withholding Attack on: April 07, 2014, 02:33:37 PM
Is amazon really such a threat to everyone. At some point this will lead to different kind of arrangement.

It's this intuitive insight that Anonymint overlooks.  The basic fact that any such actions by malicious actors will, eventually, expose themselves; and other actors will act in a different manner.  It's basic Praxeology.
77  Other / Politics & Society / Re: US health care mandate (Obamacare) on: March 31, 2014, 12:55:06 PM
Who said that it cause the world to end? US health care works very good

Yes, the US health care system works very well.  Obamacare isn't health care, it's health insurance.  Health insurance in the US does not work very well.
78  Other / Beginners & Help / Re: What happens to funds sent to invalid payment address? on: March 28, 2014, 05:42:22 PM
You can send to wrong bitcoin address but not to invalid address example: below or above allowed numbers of  characters. I think the first "1" character also matters it will became invalid if its not "1". Bitcoin send to wrong cannot be recovered if you don't have the private key.

The first askii character denotes the address version.  Currently, Bitcoin only recognizes two address versions, the one that you are familiar with that starts with a "1" and a testing version that starts with an "a" iirc.  The running network just ignores the "a" one unless your node is set to participate in the "testnet".  Future versions of addresses could use different keypair algos, or denote a sub-satoshi value, or have other uses such as denoting an address that can only be verfied with a script.
79  Other / Beginners & Help / Re: What happens to funds sent to invalid payment address? on: March 28, 2014, 05:38:39 PM
Good to know. So we should only use copy/paste. But can the scanned QR code have a letter off?

No, a QR code has internal checksums for alignment, and the addresses have internal checksums for input errors.  The odds of getting an internally correct, but still the wrong, address from a QR code scanning is astronomical.
80  Bitcoin / Bitcoin Discussion / Re: What if Bitcoin was a currency? on: March 26, 2014, 11:57:13 PM
Bitcoin isn't stable enough to be a currency..Bitcoin is just a prototype, once a better coin comes out or maybe it's out already? will replace Bitcoin and render it useless. Now that new coin will be a currency.

Good luck with that.
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